36% Jump in Spot TL Freight Brightens Economic Outlook

In a very positive economic sign, the number of posted loads on the spot truckload freight market was up 36% during the week ending June 11, according to DAT Solutions.

That made it another good week for carriers as load-to-truck ratios all jumped substantially: the van load-to-truck ratio was 3.1 loads per truck, up 23%; the reefer ratio climbed 29% to 5.9; and the flatbed ratio was 20.3, a 10% increase compared to the previous week.

National average spot rates remained solid:

– Van: $1.61/mile, down a penny despite increases in average rates in major markets.
– Reefer: $1.94/mile, up 1 cent on higher rates out of California, the Northeast, and Midwest.
– Flatbed: Unchanged at $1.93/mile. A 1-cent drop in the line-haul rate was offset by a 1-cent increase in the fuel surcharge.

Rates rose sharply on the top 100 van lanes last week as demand for vans fell just 4% instead of the 20% drop expected during a 4-day work week. Consumer goods are moving through the retail supply chain and the added freight is driving rates up.

Traditional backhaul lane rates are softer. For example, van loads from Phoenix to Denver are paying 18 cents more in June so far than they did in May, but the backhaul from Denver to Phoenix dropped to 95 cents mile.

Category: Featured